JAKARTA - PT RMK Energy Tbk (RMKE) projects that coal prices range from 50 to 55 US dollars per ton by the end of 2023.
Finance Director of RMKE Vincent Saputra gave an example of the price of coal type GAR 42 which is widely produced by RMKE, the selling value and production costs tend not to have a significant difference so he is sure that there will not be a significant decrease or increase in prices.
"So we see that until the end of the year Gar 42 will be stable in the range of 50 to 55. So until the end of the year we don't see any significant ups and downs," Vincent said in an online press conference, Thursday, August 3.
Vincent added that this price estimate is outside of extreme events which is likely to cause coal prices to soar or decline significantly.
He further added that although in the midst of unfavorable weather and normalization of coal prices, the company was still able to score operational and financial performance that continued to grow and on average it had reached 41.4 percent of the 2023 target.
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"Management still sees a much better prospect in the second half of this year with more favorable weather (el nino phenomenon), winter at the end of the year and coal prices that tend to be stable," said Vincent.
He further added that the company is currently also working on completing the private hauling road which is targeted to be completed this year so that it can increase the volume of coal transportation from third party mines.
With the completion of this hauling road project, the Company can synergize with its affiliated company RMKO, which has just been listed on the Indonesia Stock Exchange, so that it can provide coal logistics services that are integrated from upstream to downstream.
"The company will also optimize coal production from in-house mines to increase the volume of coal sales that had been affected by the weather in the first half of this year," concluded Vincent.
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